Analysis of effect of monetary policies implemented in Turkish economy during the global economic crisis on macroeconomic indicators

Global economic crisis is a world crisis started in U.S. housing markets and spread all over the world economies as a result of globalization. State interventions have become mandatory and economy politics have been important all over the world to avoid such a comprehensive crisis sweeping all the world economies.Aim of the study is to analyze impact of monetary policies on macroeconomic indicators revealing the Turkey economy?s status at the point of exit from the crisis during the global economic crisis. Study is composed of three parts, in the first section, economic crisis and economic policy concepts are explained, in the second section, formation of global economic crisis and its reflections are explored through selected macroeconomic indicators. In the third and last section, economy policies in Turkey's economy during the global economic crisis were discussed and effects of monetary policies (domestic borrowing interest rates, deposit interest rates, rediscount rates, required reserve interest rates, CBT overnight borrowing and lending interest rates, foreign interest rates (USD), change rate of emission volume) implemented during the global economic crisis on selected macroeconomic indicators (growth rates, inflation rates, unemployment rates, current account, top 100 index of Istanbul Stock Exchange) were analyzed econometrically. According to the results of analysis, except current account, significant relationships were determined between monetary policy instruments and all macro-economic indicators. Except CBT overnight borrowing and lending interest rates, significant results were determined between monetary policy instruments and current account macro-economic variable.Keywords: Economic Policies, the Global Economic Crisis, Macro-Economic Indicators